Stocks ended sharply lower Monday, with the Dow Jones Industrial Average giving up its gain for the year as investors dumped global equities and other assets perceived as risky amid worries over the spread of COVID-19 outside of China.
The Dow Jones Industrial Average ended around 1,030 points lower, a drop of 3.6%,near 27,962, according to preliminary figures, and leaving the blue-chip gauge down 2% for the year to date. The S&P fell around 112 points or 3.4%, to end near 3,226, while the Nasdaq Composite dropped around 355 points, or 3.7%, to finish near 9,221.
Energy was the hardest hit sector in the S&P 500, dropping 4.7% as crude-oil futures fell sharply on worries the economic impact of the viral outbreak would dent demand for crude. Transportation-related shares also suffered, with cruise-ship operators Norwegian Cruise Line Holdings Ltd. and Carnival Corp. among the biggest decliners on the S&P 500, with each falling more than 9%.
Source : Marketwatch